Home Point Financial completes Stonegate Mortgage acquisition

Home Point Financial Corp.’s $211 million acquisition of Stonegate Mortgage Corp. is now complete, as Stonegate disclosed in a filing with the Securities and Exchange Commission that the acquisition became final on Wednesday. As a result of the deal, Stonegate is now wholly owned direct subsidiary of Home Point.
Source: HousingWire Magazine

President Trump declares June National Homeownership month

President Donald Trump just declared June as National Homeownership month, to increase awareness into the importance of owning a home. The president emphasizes that for many Americans, owning a home is essential to living the American Dream.
Source: HousingWire Magazine

Feds take action to solve appraiser shortage

Key government agencies finally addressed the critically growing appraisal shortage crisis that’s hampering the mortgage process. Currently, most appraisers are in their late 50s, with few taking the time mentor trainees. While it doesn’t solve the root of the problem, these housing groups highlighted two alternative options to help areas that are facing a shortage.
Source: HousingWire Magazine

New York City cuts ties with Wells Fargo

Earlier this year, reports began to emerge that New York City was considering becoming the next in a string of cities and states to cut ties with Wells Fargo in the wake of the bank’s fake account scandal. And Wednesday, that’s exactly what happened, as New York City’s mayor and comptroller announced that the city is ending its business relationship with Wells Fargo.
Source: HousingWire Magazine

Home prices jumped the most in these 10 housing markets

As home prices continue to rise, some metros stood above the rest. Unsurprisingly, most metros in the top 10 lie on the West Coast including areas such as San Jose and San Francisco. The latest report from Black Knight shows which metros held the highest increase in home prices in March.
Source: HousingWire Magazine

Experts agree – home prices not back to bubble-era levels

Home prices continue to rise across the U.S., leading some to wonder if the housing market is back to its bubble era years. However experts agree home prices are far below pre-crisis levels. Using calculations that show “real home prices” experts explained affordability is decreasing, and even low historically, but not close to the bubble years.
Source: HousingWire Magazine

FTC accuses Louisiana Real Estate Appraisal Board of violating federal law with fee rules

The rules established by the Louisiana Real Estate Appraisal Board, the regulatory body that oversees property appraisals in the state, violate federal antitrust laws and stifle competition for appraisal services due to strict requirements to adhere to a “customary and reasonable” appraisal fee schedule, according to the Federal Trade Commission.
Source: HousingWire Magazine

BPC: Here's a bipartisan path forward to accomplish GSE reform

A lack of bipartisan support nearly shattered any chance of reforming Fannie Mae and Freddie Mac, leaving the government sponsored-enterprises in conservatorship for almost a decade. The Bipartisan Policy Center, however, is set on correcting this issue as talks for reform start to resurface. And the BPC didn’t leave it at only one option for reform; they outlined three possible paths forward.
Source: HousingWire Magazine

Mortgage origination volume hits highest point since 2012

Mortgage originations are up, and even hit the highest volume amount since 2012, yet as originations increased, profitability sank. When originator profits are higher, mortgage volumes are less responsive to changes in interest rates, but as it stands, the Fed’s decision over a June rate hike could hold significant consequences to mortgage origination volumes.
Source: HousingWire Magazine

Pending home sales see largest drop since 2014

Pending home sales dropped for the second consecutive month as low inventory levels continue to hold back property purchases. April’s drop represents the first annual decrease since December and the largest decrease since 2014. As for the forecast – inventory levels won’t be increasing anytime soon.
Source: HousingWire Magazine